Karachi: In a recent transaction, Ms. Fouzia Jabeen Janjua, a General Manager (Executive) at Habib Bank Limited, engaged in the buying and selling of company shares, following all regulatory guidelines set by the Pakistan Stock Exchange (PSX).

On July 9, 2024, Ms. Janjua executed two transactions: she sold 1,000 shares at a rate of PKR 145.60 and bought 1,000 shares at PKR 141.00. Both transactions were completed using CDC (Central Depository Company) ready form certificates, which facilitate the immediate transfer of shares.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of the normal disclosure practices mandated under clause No. 5.6.1(d) of PSX Regulations. The disclosure involves transactions conducted by directors, CEOs, executives, their spouses, or substantial shareholders.

The bank confirmed that these transactions have met all compliance requirements, including the holding period of over six months. In cases where the holding period is less than six months, profits are managed according to Section 105 of the Securities Act, 2015, which requires that the equivalent profit be deposited with the Securities and Exchange Commission of Pakistan (SECP), with proper intimation to PSX.

These transactions will be reviewed in the upcoming board meeting to ensure full compliance and transparency as part of Habib Bank's commitment to good corporate governance practices.